Section 20902 Of Article 1. General Provisions From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 11. >> Article 1.
20902
. Notwithstanding any other provisions of this part, whenever
the employer, by formal action, determines that because of an
impending curtailment of, or change in the manner of, performing
service, the best interests of the state would be served by
encouraging the retirement of legislative employees, and that
sufficient economies could be realized to offset any cost to the
employer resulting from this section, an additional two years of
service shall be credited to legislative employees who are members,
pursuant to Section 20324, if the following conditions exist:
(a) The member is credited with five or more years of service and
retires during a period not to exceed 120 days or less than 60 days
commencing no sooner than the operative date of the formal action of
the employer that shall specify the period.
(b) The employer transmits to the retirement fund an amount
determined by the board that is equal to the actuarial equivalent of
the difference between the allowance the member receives after the
receipt of service credit under this section and the amount the
member would have received without that service credit. The transfer
to the retirement fund shall be made in a manner and time period
acceptable to the employer and the board.
The amount of service credit shall be two years regardless of
credited service.
Any member who qualifies under this section, upon subsequent
reentry to this system shall forfeit the service credit acquired
under this section.
This section shall not be applicable to any member otherwise
eligible if the member receives any unemployment insurance payments
arising out of employment with an employer subject to this part
during a period extending one year beyond the operative date of the
formal action of the employer or if the member is not eligible to
retire without the additional credit available under this section.
As used in this section, "employer" means the Joint Rules
Committee, the Joint Legislative Budget Committee, the Joint
Legislative Audit Committee, the Senate Committee on Rules, and the
Assembly Rules Committee, with respect to their respective employees.